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environment is depressing. the uk economy is arguably more inflation prone, certainly, than core european economies. and irrespective of this downward pressure on growth. i think it's astonishing that we haven't seen weaker inflation outturns in the uk over the last two years. so there's a sense that i guess the inflation environment is more vulnerable in the uk than the uk or core europe. and these worries persist. and, you know, any change to the focus and central bank strategy with regard to focusing on the inflation target i think just helps to exacerbate these concerns. >> all right. don, stick around. we'll come back to you in a short while. don smith from icap is still to come back to you, as well. >>> european stocks are pretty flat on the session. the ibex slightly higher than it was. >> take a look at what's happened with the reaction. 2.1%, i should say, following from that weaker than expected inflation data. bunds roughly unchanged. pressure coming off in italy with those yields moving ever so slig
environment is depressing. the uk economy is arguably more inflation prone, certainly, than core european economies. and irrespective of this downward pressure on growth. i think it's astonishing that we haven't seen weaker inflation outturns in the uk over the last two years. so there's a sense that i guess the inflation environment is more vulnerable in the uk than the uk or core europe. and these worries persist. and, you know, any change to the focus and central bank strategy with regard to...
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Feb 8, 2013
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in part because cruises represent such a strong value proposition in this environment. one more thing before i drill down to whether you should sail away on carnival or royal caribbean. for cruise operators, net yield is how we measure them, the purest measure of a kruds company's pricing power. net yield is the ticket price minus the cost of getting there, plus on board spending, minus any commissions paid to travel agents, all which is then divided by the number of veil cruise days. simply put, this is a metric that tells you how much the cruise companies are squeezing out of their passengers. you get a 1% change in net yield in carnival or royal caribbean, that's enough for a 7% earnings in share for either company. this is a gigantic, incredibly easy way to tell how their business is doing, like same-store sales tore retail or revenue per available room for hotels. right now the net yield is in a fabulous position to go higher, thanks to higher demand, lower supply of ships and more and more people are booking online. given that commissions are paid right to the tra
in part because cruises represent such a strong value proposition in this environment. one more thing before i drill down to whether you should sail away on carnival or royal caribbean. for cruise operators, net yield is how we measure them, the purest measure of a kruds company's pricing power. net yield is the ticket price minus the cost of getting there, plus on board spending, minus any commissions paid to travel agents, all which is then divided by the number of veil cruise days. simply...
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Feb 8, 2013
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that's not case right now. >> particularly in the lower interest rate environment, too. >> right. >> what do you want to look at next week, rick? what's on your radar in. >> 66 billion in sly. 3s, 10s, 30s, tuesday, wednesday and thursday, of course, as many guests have mentioned. retail sales, the big data point, but i always like to monitor supply and see how investors are looking at a slightly higher rate environment to some of the auctions towards the end of 2012. >> that's a good point. how do you think name packets the market, all the new supply coming on? >> well, actually i think it may refocus the argument because even though 195, as our guests said, below the inflation rate, still better than the 140 to 160 area we traded at for a large part in the middle of 2012. >> brian rehling, what's your take? >> you know, i'm sure there will be pretty good demand next week in the short term, but when you're look to allocate your money, even if interest rates stay low and we don't get a rise in yield, you know, there's no money to be made over there. you're working on such slow yields
that's not case right now. >> particularly in the lower interest rate environment, too. >> right. >> what do you want to look at next week, rick? what's on your radar in. >> 66 billion in sly. 3s, 10s, 30s, tuesday, wednesday and thursday, of course, as many guests have mentioned. retail sales, the big data point, but i always like to monitor supply and see how investors are looking at a slightly higher rate environment to some of the auctions towards the end of 2012....
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Feb 11, 2013
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that is not going to be derailed by what i call a religion of orthodoxy of the environment. in other words, they're -- what i regard as being practical about the environment, that's important because they have a lot of resource businesses that will not be hurt by willy-nilly laws that could be passed that really do exappropriate nate a lot of their property. that's a little bit of a conservative view, but that's the way it take it. let's go to john in ohio. >> caller: hi, jim. how should i play a spinoff? should i spell the parent company or sell the company that was spun off or hold -- >> case by case, i typically like to keep the parent and sell the sub. but in some situations like abbott, i like abbott more than abv. it's case by case and if it's -- for instance, i spend a huge amount of time trying to describe what is better. i do my best on this show to tell you too. you want your portfolio to shine in any market, you have to own gold. i prefer the gld over the bouillon. but both give you insurance against chaos. and please don't buy the individual stocks of gold miners
that is not going to be derailed by what i call a religion of orthodoxy of the environment. in other words, they're -- what i regard as being practical about the environment, that's important because they have a lot of resource businesses that will not be hurt by willy-nilly laws that could be passed that really do exappropriate nate a lot of their property. that's a little bit of a conservative view, but that's the way it take it. let's go to john in ohio. >> caller: hi, jim. how should...
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Feb 7, 2013
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we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back to "the kudlow report." in this half hour, mahmoud ahmadinejad says iran is now a nuclear country. does that mean the rogue regime already has nuclear weapons? we'll get an answer later on. on what would have been president reagan's 102nd birthday, we will honor reagan with a look at many of his messages that resonate today. we have more of his best comments for you and we have reagan biographer craig shirley who will join us later this half hour. first up, major automatic spending cuts set to kick in march 1. republicans are gearing up for another big spending fight with the white house. president obama is urging congress to delay the cuts and smack us with another big tax hike. earlier i had a chance to speak with eric cantor from virginia. i asked for his response b
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back to "the kudlow report." in this half hour, mahmoud ahmadinejad says iran is now a nuclear country. does that mean the rogue regime already has nuclear weapons? we'll get an answer later on. on what would have been...
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Feb 4, 2013
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are those the right funds to be in in this environment? >> well, when you think about van if guard's target date funds, for example, our oldest fund down here, wellington fund, it maintains roughly a 65% equity ratio and that would be kind of middle of the road balanced funds position, and part of that is, because we're selling a balanced fund. an interesting part of the mutual fund business is you have to rebalance, because if you let that 65% go to say 80% you won't have the balanced fund you're offering the public. so the market is sort of discipline. i hate to talk about that because i don't like marketing in this business very much. but that's a strategy. but i don't think it's a strategy all investors need to follow. >> jack, when you're looking in the market and thinking ahead six, nine months are you willing to look beyond the risk of the payroll taxes going to hit all those consumer facing businesses, and are you talking sort of the broader perspective that actually the economy really is healing properly now or does it make you ne
are those the right funds to be in in this environment? >> well, when you think about van if guard's target date funds, for example, our oldest fund down here, wellington fund, it maintains roughly a 65% equity ratio and that would be kind of middle of the road balanced funds position, and part of that is, because we're selling a balanced fund. an interesting part of the mutual fund business is you have to rebalance, because if you let that 65% go to say 80% you won't have the balanced...
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Feb 4, 2013
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so in answer to your question, the environment is one that still consists of, i guess, limited available liquidity and limited available credit rather for small businesses, often reflected when you look at national federation of independent business surveys. they always tend to be a lot less optimistic an those of the larger companies. >> chris, among the many boards you're on, biggest company is wal-mart, of course. walla walla smart embroiled in a bribery standal in mexico with ongoing investigations internal and external. what can you tell us about the state of those investigations at this moment, when they might be wrapped up, and whether you fear as a member of the board, that anyone in top management could be so tainted that they might have to be replaced? >> obviously, there's very little i can say at this point other than the company does continue to conduct an extensive investigation into those allegations and will come forward. >> any time line that you can hint at? a matter of months, weeks, years? >> i don't want to give a time line. i have an idea of a time line but i don't
so in answer to your question, the environment is one that still consists of, i guess, limited available liquidity and limited available credit rather for small businesses, often reflected when you look at national federation of independent business surveys. they always tend to be a lot less optimistic an those of the larger companies. >> chris, among the many boards you're on, biggest company is wal-mart, of course. walla walla smart embroiled in a bribery standal in mexico with ongoing...
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Feb 12, 2013
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the political environment is very, very difficult. the economic underpinnings that we're facing now in the environment that we're going to have to deal, you know, for the economy, is actually better than it's been in some time. we've chewed through a lot of problems. a lot of the leverage on the banking side, on the corporate side and on the individual side has been chewed through. housing has probably in all likelihood has turned around at this point. the energy situation in the united states is terrific, and beyond the contemplation of anybody who grew up when i grew up sort of secure in the knowledge that the u.s. is going to have to import energy forever, and that may not necessarily be the case. so those are all tailwinds. the big problem is getting the country to receive that bounty and to plan for it and to structure itself in the right way. if you take energy, for example, we really have implemented an energy policy that will be able to take advantage of some of those blessings that have come our way. >> what do you make of th
the political environment is very, very difficult. the economic underpinnings that we're facing now in the environment that we're going to have to deal, you know, for the economy, is actually better than it's been in some time. we've chewed through a lot of problems. a lot of the leverage on the banking side, on the corporate side and on the individual side has been chewed through. housing has probably in all likelihood has turned around at this point. the energy situation in the united states...
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Feb 4, 2013
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china does not have a huge system for looking after you in your environment. so they're going to say, first savings you see are going to go on and on. if anything, get bigger the. >> andrew, agree? >> yes, perfectly. it's not just economic, it's social and political, as well. with the labor forces becoming more and more educated, china is turning out something like 7 million university graduates. by 2030, china will have 200 million university graduates, bigger than the entire workforce than the united states. and so the kind of labor relations, the kind of workers rights have got to change. the leadership is fully aware of this. that is why this has to happen. >> this is a great demographic debate. china now goes into a period of shrinkage and india is exactly the opposite place. and it is growing and at some stage if the numbers are correct, india will overtake china over the next 30 years by a demographic point of view. therein lie tess region why china at the moment is up to try and improve the activity, to try and maintain the competitive edge. obviously,
china does not have a huge system for looking after you in your environment. so they're going to say, first savings you see are going to go on and on. if anything, get bigger the. >> andrew, agree? >> yes, perfectly. it's not just economic, it's social and political, as well. with the labor forces becoming more and more educated, china is turning out something like 7 million university graduates. by 2030, china will have 200 million university graduates, bigger than the entire...
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Feb 5, 2013
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you know, really it's a tough environment. i've said they're like a ship without direction because knowing where to go is hard right now. the fed is pushing in risk spreads. there's no reward for extending out the curve and so from an interest rate risk standpoint, there's no reward to go out further. so we do see fix dollars income investors sitting on the sidelines and waiting for the opportunity to get back into the market. and i think you're seeing on a retail side i suspect you're seeing a rotation into stocks based on the flows that we see. >> there seems to be some evidence fixed income investors are going down the lower quality to find yield. is that still happening? >> absolutely it is. i think the first step in that process was moving into -- for our investors moving into municipal bonds. increasingly, our investors are looking down the credit curve. as an example, you can do from two years to ten years and only pick up 17 on basis points. >> we have to go. thanks for joining us. from kelly and i, "squawk box" is nex
you know, really it's a tough environment. i've said they're like a ship without direction because knowing where to go is hard right now. the fed is pushing in risk spreads. there's no reward for extending out the curve and so from an interest rate risk standpoint, there's no reward to go out further. so we do see fix dollars income investors sitting on the sidelines and waiting for the opportunity to get back into the market. and i think you're seeing on a retail side i suspect you're seeing a...
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Feb 8, 2013
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higher interest, whether or not stocks go up in that environment. back re going to send you now to a place where the weather should be much better. us want to be there i think. mr. kernen. >> oh, thanks, andrew. coming up our newsmaker of the hour, famed corporate leader carol bartz is going to speak out on yahoo! apple and much more. plus the northeast bracing for a major winter storm. 2600 flights already grounded. forecasters warning that this storm could be among the worst ever. although it is winter. a live report from laguardia when we return. ♪ [ engine turns over ] [ male announcer ] we created the luxury crossover and kept turning the page, writing the next chapter for the rx and lexus. this is the pursuit of perfection. >>> welcome back to "squawk" this friday. take a look at how the futures are setting up ahead of the market. dow looks like it would open up about 4, nasdaq up about 2, and the s&p up about a point. also in the headlines, the northeast bracing for a winter storm called nemo. and it looks like a bad one. 2600 flights alrea
higher interest, whether or not stocks go up in that environment. back re going to send you now to a place where the weather should be much better. us want to be there i think. mr. kernen. >> oh, thanks, andrew. coming up our newsmaker of the hour, famed corporate leader carol bartz is going to speak out on yahoo! apple and much more. plus the northeast bracing for a major winter storm. 2600 flights already grounded. forecasters warning that this storm could be among the worst ever....
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Feb 12, 2013
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we need to create an environment in which business can expand. we can create jobs and we can be competitive globally. and, in fact, frankly, we're growing our economy. now last month, or last quarter, as you know, gdp went down for the first time in a very long time. why? because of instability in dealing with our fiscal challenges. and we have to get over that. the president's going to talk about that and talk about job growth, as it relates to his inaugural address my view is this is a person very, very hotly contested election, received only the second president or the first president -- the first president since lyndon johnson, actually franklin roosevelt, to get a majority of the votes in two elections running. no democratic president before him has done that since roosevelt. so majority of the people that voted for house members voted for democrats. although we didn't take back the house. we expanded our majority in the that. that doesn't mean that we just ought to do it our way. the republicans control the house. we need to have a compromi
we need to create an environment in which business can expand. we can create jobs and we can be competitive globally. and, in fact, frankly, we're growing our economy. now last month, or last quarter, as you know, gdp went down for the first time in a very long time. why? because of instability in dealing with our fiscal challenges. and we have to get over that. the president's going to talk about that and talk about job growth, as it relates to his inaugural address my view is this is a person...
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Feb 7, 2013
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and that is a difficult environment. we see that with increased generic utilization, with price productions and increased difficulty in getting price for innovation and new products. i really don't see that changing over the next two to three years. but that's also why we've allowed our sales in europe to go from 33% down to 23% and i would anticipate it will be less than 20% in two years' time. >> what's your strategy in terms of r&d? some of your competitors have announced they're going to increase sharply their r&d investment this year. >> the funny thing is, how much you spend on r&d doesn't necessarily correlate to success. so we've tried a much different model, and that is really to move to this open innovation concept. curiously, we actually have a very robust late stage pipeline. we have eight products to be launched between now and 2015. we have nine product approvals in the last 12 months. most of that has come from acquisitions and external licensing. innovation has to be at the core of what we do, but i think
and that is a difficult environment. we see that with increased generic utilization, with price productions and increased difficulty in getting price for innovation and new products. i really don't see that changing over the next two to three years. but that's also why we've allowed our sales in europe to go from 33% down to 23% and i would anticipate it will be less than 20% in two years' time. >> what's your strategy in terms of r&d? some of your competitors have announced they're...
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we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back, everybody. this is "the kudlow report." i'm larry kudlow. in this half hour, president obama on the campaign trail in minneapolis to promote new gun lawses. he's not going to get the assault weapons ban he wants. he should have gone to chicago where they have a real gun and murder problem. would you put millions of bucks on an investment with only a 20% chance of success? that's what they do when it comes to broadway shows. our own mario bartiromo will go behind the scenes of that world in a primetime special. she'll be here to talk about it. first up, guess what. here's a surprise. president obama wants another big tax hike. he pretends the sequester wasn't his idea. remember, this whole across the board budget cut deadline was his plan going back to 2011. how about
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back, everybody. this is "the kudlow report." i'm larry kudlow. in this half hour, president obama on the campaign trail in minneapolis to promote new gun lawses. he's not going to get the assault weapons ban he wants. he...
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>> we need to focus on creating an environment that fosters competition. ultimately until we have new methodologies like rapid ratings and others approaching the market in different ways, new revenue models, not being paid by issuers where there's a potential conflict of interest but paid by subscribers. all these things need to be fostered and we need to make sure we're not creating barriers that makes small firms say i don't want to be in this market. >> there's so many hurdles and barriers that can't be explained in a 4:00 tv segment. >> i don't like them but have to use them legally because pension funds may have rules that say i can't buy anything unless it's rated by one of the two or big three nrsros. >> really nailed it. >> it's a bizarre circle. >> the public fiduciary and pension funds that have funds that go into the money managers that help prop up the system, you believe the board of trustees of those pension funds or pensioners whose money managed say this does not work anymore and we cannot be relying on these agencies that are alleged fraud
>> we need to focus on creating an environment that fosters competition. ultimately until we have new methodologies like rapid ratings and others approaching the market in different ways, new revenue models, not being paid by issuers where there's a potential conflict of interest but paid by subscribers. all these things need to be fostered and we need to make sure we're not creating barriers that makes small firms say i don't want to be in this market. >> there's so many hurdles...
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Feb 6, 2013
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we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> u.s. government is suing s&p and its parent company mcgraw hill perhaps for as much as $5 million over its massive ratings mistakes on mortgage bonds and subprime issues. so far only s&p is being sued. while s&p's parent mcgraw hill stock dropped by 24%, moody's is also down by 20% since this news broke. let's ask two key questions right up front. first, is there a smoking gun inside s&p? or is this political pay back for s&p cutting the u.s. debt rating back in 2011? here's what the attorney for standard & poor's floyd abrams told david faber on cnbc earlier today. >> i don't think anyone knows. is it true that after the downgrade the intensity of the investigation significantly increased? yeah. i'm sure the government would say that it had nothing to do with it. we don't know why
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> u.s. government is suing s&p and its parent company mcgraw hill perhaps for as much as $5 million over its massive ratings mistakes on mortgage bonds and subprime issues. so far only s&p is being sued. while s&p's parent mcgraw hill...
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Feb 7, 2013
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in that environment, you have -- you have correctly placed your hotels. >> well, it's really interesting for us, our business is so dependent on economic activity, business confidence and consumer confidence. you're exactly right. january in china our rev par numbers with up 6%. that's after a slow down. the government transitions almost behind us, chinese new year will be behind us. china is picking up. latsen america was the strongest growth region, slowed down last year because of argentina. we haven't talked about africa which is another place where global capital flows are coming in in ways we have never seen before. >> let's talk about china for a moment. we see china as having a big year in 2013. a lot of people had penalized your stock, tank it down to the -- well at that point into the 50s because they felt you were overexpanding in china. you're probably as a percentage of what people are putting their capital in the highest of any of the companies i follow in terms of commitment to china? >> well, we're long term bullish on china. today, we have more hotel rooms in china than
in that environment, you have -- you have correctly placed your hotels. >> well, it's really interesting for us, our business is so dependent on economic activity, business confidence and consumer confidence. you're exactly right. january in china our rev par numbers with up 6%. that's after a slow down. the government transitions almost behind us, chinese new year will be behind us. china is picking up. latsen america was the strongest growth region, slowed down last year because of...
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Feb 8, 2013
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we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> we're back with ann coulter, mark hanna and peter suderman. obama awl on night of benghazi attack. they had a 5:00 p.m. meeting, nobody heard from the president after the 5:00 p.m. meeting. the whole benghazi business lasted at least seven hours. now it turns out in other news reports today that there was no hillary clinton from the state department, which is her jurisdiction. panetta didn't talk to the president, panetta didn't talk to hillary clinton. i don't know who he talked to. all i know is nobody saved the four people, we didn't see any american force. what's up with that? >> and it's long after the presidential election has run. i mean, you really wonder if democrats would win any elections if we had an honest media in this country. this is really getting to be a problem.
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> we're back with ann coulter, mark hanna and peter suderman. obama awl on night of benghazi attack. they had a 5:00 p.m. meeting, nobody heard from the president after the 5:00 p.m. meeting. the whole benghazi business lasted at least seven...
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Feb 4, 2013
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that's been a help as the commodity environment get more benign. the interesting thing is the before tax earnings were up about 22% but we paid a higher tax rate. we paid about 34% in taxes. all in all top line strong volume growth. great margin expansion. and the earnings followed that. >> so what about 2013? how's it looks? what would you expect? a lot of analysts out there question whether or not the sustainability of this organic growth is on track. so how do you ensure that it will? >> if you go back the last 18 months we've averaged at the top of our 3% to 5% top line target that we've had with the investment community. 18 months we've done this. as we look into the second half of the year, we're comfortable where the consensus is. 3% growth. we're going to lap almost 6% growth from last year in this period of time. you mentioned the flu at the outset of the session here. the flu is probably about 10% of our growth in the quarter. it wasn't that much, frankly. i think you'll see more of that manifesting itself into february and march. i think
that's been a help as the commodity environment get more benign. the interesting thing is the before tax earnings were up about 22% but we paid a higher tax rate. we paid about 34% in taxes. all in all top line strong volume growth. great margin expansion. and the earnings followed that. >> so what about 2013? how's it looks? what would you expect? a lot of analysts out there question whether or not the sustainability of this organic growth is on track. so how do you ensure that it will?...
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many of then banks are not even earning their cost of capital yet in what's not a terrible environment. so, what you go for is compensation. it isn't just bigger than any other expense. for some of these, it's bigger than all the other expenses by some measure. the banks have been taking it down, firing people. that's really a tragedy. tens of thousands of people. and some how we seem to miss this and the tragedy there. they've been taking down compensation and they've been deferring out compensation. now, moving toward bond compensation is actually a very good way of reducing risk. equity compensation, which is what we've moved more towards actually encourages risk, in a way, we've been going in the wrong direction. >> do you think, then, that we need to break up the banks and reverse the demise of that in some way? >> well, i think it's all -- look, there's a lot of talk about breaking up banks. i know bob robin said today not break up then banks. for all these wonderful, esteemed very accomplished gentlemen who were in banking some time ago, they're all coming out with an opinion an
many of then banks are not even earning their cost of capital yet in what's not a terrible environment. so, what you go for is compensation. it isn't just bigger than any other expense. for some of these, it's bigger than all the other expenses by some measure. the banks have been taking it down, firing people. that's really a tragedy. tens of thousands of people. and some how we seem to miss this and the tragedy there. they've been taking down compensation and they've been deferring out...
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Feb 11, 2013
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. >> what about the idea that the regulatory environment is getting tougher from the epa to the financial regulators, dodd-frank, basel. business faces a different situation than decades ago. >> i don't think so. i remember acquisitions with at&t we didn't know. it was tough. we spent a great deal of time in the political and regulatory part of the business. it was touch and go. i'm not sure it change sod much. >> okay. what about the global story? people say in the last several decades, you know, american business was really riding a wave of globalization. today you're more likely to hear about jobs in buffalo and in michigan than in bangalore, india. are economies looking inward? >> i think so. there are some coming back. that's a good sign. >> you think it's a good sign that it's not the globalization openness we saw a few years ago and now economies are looking inward? >> glad to see us bring jobs back to this country and rethink that. that's helpful. >> final question. what do you drive? you driving a gm? >> i am driving a gtm cadillac ctsv. it's a great car. hot wheel. >> hot wheels
. >> what about the idea that the regulatory environment is getting tougher from the epa to the financial regulators, dodd-frank, basel. business faces a different situation than decades ago. >> i don't think so. i remember acquisitions with at&t we didn't know. it was tough. we spent a great deal of time in the political and regulatory part of the business. it was touch and go. i'm not sure it change sod much. >> okay. what about the global story? people say in the last...
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. >> in terms of the overall environment right now, where are we in terms of trust and sentiment? we've got the libor scandal. we continue to see sort of upsets in the banking world. >> right. >> do you think that a lot has changed, or not? >> it is -- it is had, and i don't think a lot has changed. it's gotten marginally better, but the reforms have been pretty incremental, and most of the dodd/frank rules haven't even been finalized yet so that does concern me, and i think as the public watches this, they are losing confidence in the regulators as well to get this job done. they need to know that the regulatory community is, you know, standing up for them and policing these institutions appropriately, and whether the industry wants to acknowledge that or not, that's in the industry's interest for the public, and their customers to view them as being regulated by people of integrity, so i don't. i'm disappointed at the pace of reform. we haven't seen a lot of changes other than very incremental changes, but i'm hoping that maybe this year will be the year when we can finally get
. >> in terms of the overall environment right now, where are we in terms of trust and sentiment? we've got the libor scandal. we continue to see sort of upsets in the banking world. >> right. >> do you think that a lot has changed, or not? >> it is -- it is had, and i don't think a lot has changed. it's gotten marginally better, but the reforms have been pretty incremental, and most of the dodd/frank rules haven't even been finalized yet so that does concern me, and i...
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we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back to "the kudlow report." all right, the nomination of chuck hagel as defense secretary is in a heap of trouble. in fact, his uphill battle is looking so steep it might be better if he just bowed out. now let's welcome back our panel. we welcome to the show joel pollack. he's the editor in chief at -- who's been covering this story in some detail. some senators are holding up the confirmation vote until hagel complies with their request for more financial disclosure information. in particular, foreign financial disclosure information. is he going to do it or not? >> i don't think he will. because he has too much at stake in the other institutions he's involved with, particularly the atlantic council. and there are some donors to projects at the atlantic council who have
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back to "the kudlow report." all right, the nomination of chuck hagel as defense secretary is in a heap of trouble. in fact, his uphill battle is looking so steep it might be better if he just bowed out. now let's welcome back...
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we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ [ticking] >> when the headline-making cold fusion experiment was debunked in 1989, it was quickly consigned to the science junkyard. but 20 years later, cold fusion research was making news again and again drawing criticism. with so many open questions, we asked an independent authority, distinguished physicist rob duncan, to take a look. >> when we first called you... >> uh-huh. >> and said we'd like you to look into cold fusion for 60 minutes, what did you think when you hung up the phone? >> i think my first reaction was something like, "well, isn't that--hasn't that been debunked?" >> we asked duncan to go with us to israel where a lab called energetics technologies has reported some of the biggest energy gains yet. >> we are delivering power into the cell. >> when i got there, i j
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ [ticking] >> when the headline-making cold fusion experiment was debunked in 1989, it was quickly consigned to the science junkyard. but 20 years later, cold fusion research was making news again and again drawing criticism. with so many open...
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this is the right environment for goldman. this is where they crush people. that's absolutely what's going on. they are going to win in most of their business lines. they've fired enough people that it will be really profitable. and as stephen mentioned, the market is really shallow. it's really them versus some hobbled competitors. >> never mind the run in the shares. you'd be a buyer right here? >> i think they're winning in almost everything that they do. the last couple of quarters bears that out. i don't see why the stock couldn't trade hotter. >> a once red hot trade is rolling over. high-yield corporate debt is trading. is this mini correction is sign of things to come for the broader market? mike santelli joins us now. why should we be watching this closer than we are? >> the credit strength, the strength in the credit markets has been the underpinning leading the charge of equities for years now. i think it's the front lines where risk appetite and liquidity come together and tell you how the overall markets are looking. i'm not an alarmist about thi
this is the right environment for goldman. this is where they crush people. that's absolutely what's going on. they are going to win in most of their business lines. they've fired enough people that it will be really profitable. and as stephen mentioned, the market is really shallow. it's really them versus some hobbled competitors. >> never mind the run in the shares. you'd be a buyer right here? >> i think they're winning in almost everything that they do. the last couple of...
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already we're not seeing a lot of alternatives for folks' money other than stocks because of the low rate environment. andrew, how are you investing right now? >> well, we're probably going to go ahead and move in this market. looks like the pullback is more likely 1650 back to these levels. so more than likely now is probably the time to ease into the market. you've got tremendous momentum and breath here. you're fighting the tape, as they say. this is probably the time to deploy. >> meanwhile, rick santelli, the race to the bottom of the currency markets was interrupted today. horror of horrors. japanese officials saying they don't want the currency to go much lower. and the euro moving higher as well today. >> once you put that machine in motion, i don't know if you can stop it. and bill, i find it so telling you have so much more outrage about a maker's mark liquidity injection than the fed's liquidity injections. >> what's your point? >> that's a story for another day. because that's not good for either. a 20-year chart of the dollar index looks like it's going to be going at these levels for aw
already we're not seeing a lot of alternatives for folks' money other than stocks because of the low rate environment. andrew, how are you investing right now? >> well, we're probably going to go ahead and move in this market. looks like the pullback is more likely 1650 back to these levels. so more than likely now is probably the time to ease into the market. you've got tremendous momentum and breath here. you're fighting the tape, as they say. this is probably the time to deploy....
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in this kind of environment, to deliver 5% earnings growth, a substantial improvement from the third quarter and second quarter of last year, i think that's very impressive. and, again, in this kind of tough environment. >> 73% of the companies are reporting and topped earnings. in terms of -- >> lower expectations. >> lowered expectations. >> the nasdaq is suffering its worst drop since november today. let's go live to the nasdaq to see what is behind the move. within the last 30 minutes you could really see a noticeable drop. >> absolutely, scott. just in last 30 minutes we have seen the noticeable pullback in large cap tech. shares have been underperforming the major indices. analysts telling me this is profit taking, especially after the major run-up that we have seen in some of these stocks. dpo google, that's a great example, today bmo capital downgrading the stock saying it is becoming a less compelling opportunity, more investors and that this rotation of capital out of apple could decrease. another loser, oracle, moving lower after announcing the acquisition of acme for $2.1
in this kind of environment, to deliver 5% earnings growth, a substantial improvement from the third quarter and second quarter of last year, i think that's very impressive. and, again, in this kind of tough environment. >> 73% of the companies are reporting and topped earnings. in terms of -- >> lower expectations. >> lowered expectations. >> the nasdaq is suffering its worst drop since november today. let's go live to the nasdaq to see what is behind the move. within...
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interest rates are a very different environment, very different situation today. overseas, i do think the emerging markets do represent a much -- an excellent buying opportunity here. i think they tend to outperform the u.s. going forward. >> jeff, of which of these two asset classes are the most dangerous, in your view? the long end of the bond market or gold? >> i would think the long end of the bond market. i've been in this business for 42 years as of last month. i've seen the long treasury bond go in a 3% yield to almost a 15% yield. people think they cannot lose money in bonds. i'm here to tell you, you can lose a lot of money in bonds, especially in bond funds. so i think you need to be very careful with the fixed income side of your asset allocation. >> guys, we'll leave it there. thank you for kicking off the week with us. thank you both. >>> a couple of insiders making profits off the rally. kayla tausche has more on that. >> perhaps the biggest signal of confidence in a company is when the executives and directors start scooping up shares. much of that
interest rates are a very different environment, very different situation today. overseas, i do think the emerging markets do represent a much -- an excellent buying opportunity here. i think they tend to outperform the u.s. going forward. >> jeff, of which of these two asset classes are the most dangerous, in your view? the long end of the bond market or gold? >> i would think the long end of the bond market. i've been in this business for 42 years as of last month. i've seen the...
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and if it requires there to be a consistent stable political environment, neither spain nor italy will be delivering that sufficiently for you not to think about readjusting exposure to improving sentiment in germany, in the u.k., in the u.s. and japan. compared to -- i've ridden a nice risk recovery trend in italy and spain, but is there growth recovery. if i stay in stocks, do i look at the broader footprint. the retailer is obviously a large cap name in the european markets. it's got a very domestic exposure. when that sells off on negative sentiment, often there's an opportunity to go and buy that kind of stock with that exposure with the exception of that and -- midwest of the spanish market is so correlated to that domestic political environment, utilities, main financials, that it's hard to separate your shorter-term risk from those overlays. it's not a market we chase to, but certainly opportunities to go and buy good stocks at a discount is always there in spain and italy. i think that will be the message for the first quarter. >> thanks for that, chris joining us from libra i
and if it requires there to be a consistent stable political environment, neither spain nor italy will be delivering that sufficiently for you not to think about readjusting exposure to improving sentiment in germany, in the u.k., in the u.s. and japan. compared to -- i've ridden a nice risk recovery trend in italy and spain, but is there growth recovery. if i stay in stocks, do i look at the broader footprint. the retailer is obviously a large cap name in the european markets. it's got a very...
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and joe, listen, you have to adapt it to the particular work environment you're in. but even a week, would be tremendous -- >> okay. >> if, joe, you're good at recovering during that week. >> all right. >> so it's not how long you recover. just as it's not how long you work. it's how well you recover just as it's how well you work. so when you're vacationing, you need to go on vacation. >> going and playing really bad golf in front of a lot of people laughing at you for eight hours, that's not really a vacation? >> well, it's golf. >> right. a good walk spoiled. >> a bad day at vacation is better than a good day at work. >> the worst -- oh, no, i can't tell you that. >> i got you guys going now. >> you did. you did. coming up, a final market prediction from rebecca patterson. we'd be remiss if we didn't talk about that yen? it's going to 100? >> yes. >> belowing away the s&p. >> before we let her leave for her day job she's getting a break being on the show today. plus a programming note. don't miss cnbc's coverage of the state of the union tomorrow. i know michelle
and joe, listen, you have to adapt it to the particular work environment you're in. but even a week, would be tremendous -- >> okay. >> if, joe, you're good at recovering during that week. >> all right. >> so it's not how long you recover. just as it's not how long you work. it's how well you recover just as it's how well you work. so when you're vacationing, you need to go on vacation. >> going and playing really bad golf in front of a lot of people laughing at...
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we did see a lot more of a, you know, much more competitive wholesale environment this quarter. >> corinna, would you recommend buying the shares here? >> it is a little difficult to recommend starting new positions, but we most certainly would be holding on if we did own it already. >> all right. great to speak with you. thanks for your time. >> thank you. >>. >>> when we come back, what does art cashin want to hear from the president in tonight's state of the union? he'll tell us here at post 9. one more look at futures on this fat tuesday. we'll try to let the good times roll when "squawk on the street" comes right back. [ kitt ] you know what's impressive? a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combi
we did see a lot more of a, you know, much more competitive wholesale environment this quarter. >> corinna, would you recommend buying the shares here? >> it is a little difficult to recommend starting new positions, but we most certainly would be holding on if we did own it already. >> all right. great to speak with you. thanks for your time. >> thank you. >>. >>> when we come back, what does art cashin want to hear from the president in tonight's state...
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that's a favorite with the environment for sustained economic growth. and a relatively favorable stock market. and that's the broader thing -- >> if we have a conversation about companies and earnings, is that an on, stri -- o strich conversation? are we ignoring big hammers coming down? or are we to the point where we should be having these conversations? >> they've normalized in the sense that all the central bank exertions, that's the context, okay. we now all agree that's the context. it's, you know, the -- the japanese are now a very forgiving margin clerk to the world, okay. they're giving the world all this money. now -- yes, it's been a very good, healthy rotational stock market. and when you have that as just context and not a matter of suspense, what's the fed going do? we know what's going to happen. it's there in the background. i do think it's positive that we're talking about companies, trajectories, what's a fair price to pay for a given company in the business cycle. i agree. michelle, i agree that people are kind of eager to say tactica
that's a favorite with the environment for sustained economic growth. and a relatively favorable stock market. and that's the broader thing -- >> if we have a conversation about companies and earnings, is that an on, stri -- o strich conversation? are we ignoring big hammers coming down? or are we to the point where we should be having these conversations? >> they've normalized in the sense that all the central bank exertions, that's the context, okay. we now all agree that's the...
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i just want to understand, though, is there a new environment there washington now? because we've been talking about the perception that you and the democrats and the president are working to the better. would you characterize it that way or not? >> well, i certainly hope so. you know, again, and the difficulty in working with the president thus far has been that he's not demonstrated a commitment to try to do something about the out-of-control spending. and we know it's all connected to the entitlement growth in this country, and it seems as if he's not willing to tackle that. we remain committed to working with him, and i hope that he can lead. you know, listen, i know that our international allies are looking for america to get its fiscal house in order so that they can see a better day in their country. we've got folks here at home that we want to help. and that's why we're taking the positions that we do. and today, i want to talk about how we can help folks see a better path to a bretter future and that's through innovative and solid proposals to improve prospe
i just want to understand, though, is there a new environment there washington now? because we've been talking about the perception that you and the democrats and the president are working to the better. would you characterize it that way or not? >> well, i certainly hope so. you know, again, and the difficulty in working with the president thus far has been that he's not demonstrated a commitment to try to do something about the out-of-control spending. and we know it's all connected to...
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they certainly have perspective on regulatory environment and improvements made or not made since then. >> how much cost? >> roughly $600 million, if you add administrative cost close to $700 million in fees. that's paid by wall street, by you and me if we invest. >> $700 million to reclaim $9 billion. >> which they say is a decent investment. >> thank you very much. >>> ahead on the program, intel and netflix both unveiling big plans to be front and center on your tv set. julia borsten at a media conference in laguna niguel, california. >> that's right, simon, digital and tech giants here and making big moves to own a piece of the future of television. i'll tell you about intel and netflix announcements coming up after the break. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium
they certainly have perspective on regulatory environment and improvements made or not made since then. >> how much cost? >> roughly $600 million, if you add administrative cost close to $700 million in fees. that's paid by wall street, by you and me if we invest. >> $700 million to reclaim $9 billion. >> which they say is a decent investment. >> thank you very much. >>> ahead on the program, intel and netflix both unveiling big plans to be front and...
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>> i think that's -- that's the environment. there will be short term investors looking at this stock. he wants us to focus on long term. the short term reality is comps are down 30 something percent probably this quarter. the short term is what we have to look at. >> fascinating stuff today. thank you very much for your insight. we'll talk to you later. let's get back to headquarters and the halftime. >>> carl thank you very much. we go to the halftime show. the dow is down a point. one market watcher says the s&p will drop 200 points this year. he'll tell you why coming up. >>> coffee talk, green mountain earnin earnings. up 52% this year. we'll talk to our late traders and the shares of apple up as much as 2% with creditors crediting it on legend mu tall fund bill miller and we're talking with others. what kind of activity are you seeing otherwise in shares of apple? >> it was pretty normal, which means tepid in the first hour of trading even though this was a very active trading stock and option class. the first hour traded
>> i think that's -- that's the environment. there will be short term investors looking at this stock. he wants us to focus on long term. the short term reality is comps are down 30 something percent probably this quarter. the short term is what we have to look at. >> fascinating stuff today. thank you very much for your insight. we'll talk to you later. let's get back to headquarters and the halftime. >>> carl thank you very much. we go to the halftime show. the dow is...
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then if you look at the regulatory environment, it isn't healthy. you have to say we're constrained as far as providing credit to consumers. all in all, i think it's hard to put a bold case together that's relying on fundamentals. >> what about that? is that rally about the fed and not the fundamentals? >> yes to some extent. but i'm advising my clients that optimism rules the day. and in fact, i see equity prices and higher equity prices and bond yields being recurring themes through 2013? >> when do you expect rates to start moving up? if we start seeing rock bottom rates actually move in step with economic improvement? >> well, i don't think either of the markets the bond market or the equity markets with the economic improvement to be honest with you. negative gdp growth last week. >> what would be the catalyst to move? >> i think the catalyst to move interest rate is higher equity prices. inverse relationship, right? we'll go up because informsers need to come back on fixed income. on days like today, obviously my clients and their -- and me as
then if you look at the regulatory environment, it isn't healthy. you have to say we're constrained as far as providing credit to consumers. all in all, i think it's hard to put a bold case together that's relying on fundamentals. >> what about that? is that rally about the fed and not the fundamentals? >> yes to some extent. but i'm advising my clients that optimism rules the day. and in fact, i see equity prices and higher equity prices and bond yields being recurring themes...
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already supporting microsoft environment. but there's a lot of challenges. and we're not hiding those. the price point and the usability i think is still an issue with the content that's available. >> right. jon fortt, microsoft was slow out of the gate here. is this going to be the device that makes them catch out? >> doubtful. three things. first, the original surface came out at 500 bucks. doesn't seem to have blown the door off. this is 900 to 1,000 bucks. and it's selling in february. this isn't even a holiday season. it'd be surprising to see great deals of that device even though this does run legacy windows apps. you know what runs legacy windows apps? pcs. they're not selling well either. that's why intel is working hard to get the touch screens down to the $600 range. it would run counter for this to be doing that well. we'll see when they show us some numbers. >> jon, do you think the 128 gig ipad will take a bite out of this surface interest? i mean, slap on a $75 keyboard, you're back to a macbook. >> i think that's really at the kind of high en
already supporting microsoft environment. but there's a lot of challenges. and we're not hiding those. the price point and the usability i think is still an issue with the content that's available. >> right. jon fortt, microsoft was slow out of the gate here. is this going to be the device that makes them catch out? >> doubtful. three things. first, the original surface came out at 500 bucks. doesn't seem to have blown the door off. this is 900 to 1,000 bucks. and it's selling in...
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that's easy to do in this upcoming environment if you have people starting to say you know what? i've been in money markets for too long. where else can i put my money? and they don't want to put it in the same bonds that you and i don't like. but they're going to put it in -- >> the profits of stocks. and profits are still outperforming. >> it's money printing. listen. in january the japanese government said we will print unlimited -- that's their quote -- unlimited amounts of money. so dr. bernanke said i can match that. i'll put up another $45 billion a month. a month. you know how much that is? he's spending over a trillion dollars a year of money printing. >> it ain't bad if you own stocks. >> it's making stocks go up. japanese markets are up more. >> we can be intellectually accurate. but in the meantime, it's a powerful wall of liquidity and we have to respect it. i think for our clients make money for them. >> we got to get out of here. jim rogers, thank you. the book "street smarts." available now. thanks to zane brown and bob doll. >>> white house says it's going to piv
that's easy to do in this upcoming environment if you have people starting to say you know what? i've been in money markets for too long. where else can i put my money? and they don't want to put it in the same bonds that you and i don't like. but they're going to put it in -- >> the profits of stocks. and profits are still outperforming. >> it's money printing. listen. in january the japanese government said we will print unlimited -- that's their quote -- unlimited amounts of...
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. >> so it doesn't matter that we've come this far in this environment. >> i don't think so. as long as they continue to print money, as long as interest rates are sustainable at about these levels. as long as they use that printed money to buy mortgage backed securities. as long as they buy mortgage backed securities from originating banks. as long as they are then selling these to investors who believe that mortgage guarantee is a real guarantee, housing will continue on. >> let me frame it also this way, the most tradeable, so to speak, housing markets right now are what? for people who are interested in the type of thing you're talking about. >> in terms of a company or in terms of a region? >> regions. >> regions have been the southwest. so california, nevada, arizona, texas. all three cities in texas have been the fastest growing housing markets in the nations for six months. austin, houston, dallas, atlanta, florida. segments of the carolinas, primarily all of the southern states. >> okay. josh brown, how about macy's? what's your trade there? >> this is a really excit
. >> so it doesn't matter that we've come this far in this environment. >> i don't think so. as long as they continue to print money, as long as interest rates are sustainable at about these levels. as long as they use that printed money to buy mortgage backed securities. as long as they buy mortgage backed securities from originating banks. as long as they are then selling these to investors who believe that mortgage guarantee is a real guarantee, housing will continue on. >>...
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as we get to a spot of a more normal market environment. >> do you feel they are going more towards etfs than mutual funds because one reason is bob pisani has been hot on this issue is expense ratios are dropping. >> right. we have seen strong flows into mutual funds. almost a record of year last year so i think some advisors and investors are getting into more active managements but we have seen strong flows into etfs as well, which are index tracking products and people use those for different reasons. >> beth, good to have you. thanks for coming. >> thank for having me. >> i wish i add grandpa with a mattress stuffed with cash. how many grandpas really do have mattresses stuffed with cash? >> not enough. >> and i would want them in dollars. >>> a forecast left fuzzy. we are wondering if we will see no snow or three feet of snow. we are looking on the floor of the newsroom. let's get answeres from weather chan's paul goodloe. paul, why is this system in particular so hard it nail down? >> we think we have it nailed down here at weather channel. but over all in terms of snow, you have
as we get to a spot of a more normal market environment. >> do you feel they are going more towards etfs than mutual funds because one reason is bob pisani has been hot on this issue is expense ratios are dropping. >> right. we have seen strong flows into mutual funds. almost a record of year last year so i think some advisors and investors are getting into more active managements but we have seen strong flows into etfs as well, which are index tracking products and people use those...
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66% of the trading days in the beginning of tlooent and if you look over the next two years it's an environment where it's very beneficial to stocks, low interest rates, valuation, and we'll see this year about a 12% growth in dividends and that's going to be another important catalyst like it was last year to stock returns. >> okay. so, in other words, do you think we're going to see a correction before we continue higher, or are you worried that in fact we're on shaky ground because of valuations? >> maria, i'm -- i'm a bit worried because the last couple of weeks bullish sentiment by individual investors is now at about 50%. that's usually associated with a hiccup in the market. >> mm-hmm. >> last year we had two 2% connections and we're up 16% to 20% in stocks. get ready for the same this year, but from point to point it will be a productive year for stock investors again because of all this monetary stimulation and stock valuation. >> john, you're sitting there on the trading desk and seeing the flow. what is the flow right now? do you think this market wants to continue going higher? >> y
66% of the trading days in the beginning of tlooent and if you look over the next two years it's an environment where it's very beneficial to stocks, low interest rates, valuation, and we'll see this year about a 12% growth in dividends and that's going to be another important catalyst like it was last year to stock returns. >> okay. so, in other words, do you think we're going to see a correction before we continue higher, or are you worried that in fact we're on shaky ground because of...
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Feb 11, 2013
02/13
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we saw that last year in an environment when mna activity was down 9% globally. our advisory fees were up approximately 30%. so we're taking market share in a skig cant way. >> and you're expecting dealing this year? >> i think we would expect, you know, you never know. would i put my money or own or under? i would put my money on over. >> all right. you're a betting man. ralph, good to have you on our program. ralph schlosstein. >>> again refusal to raise taxes as part of a deal to avoid automatic spending cuts. tom cole will speak with me about the brewing battle in the national's capitol. >>> a fury erupts after a company tells customers they're watering down its bourbon. stay with us. [ male announcer ] any technology not moving forward is moving backward. [ engine turns over, tires squeal ] and you'll find advanced safety technology like an available heads-up display on the 2013 lexus gs. there's no going back. >>> welcome back. less than three weeks until automatic budget cuts kick in which will trigger job losses and perhaps an economic setback. john harwo
we saw that last year in an environment when mna activity was down 9% globally. our advisory fees were up approximately 30%. so we're taking market share in a skig cant way. >> and you're expecting dealing this year? >> i think we would expect, you know, you never know. would i put my money or own or under? i would put my money on over. >> all right. you're a betting man. ralph, good to have you on our program. ralph schlosstein. >>> again refusal to raise taxes as...
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Feb 11, 2013
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so, what now is changing the environment such that it can happen? >> well, we had a price trigger over the last decade and that led to innovation and the employment of a lot of cap tam by a lot of companies and here we are growing our production base by over million barrels a day per year and there's no real end in sight. >> a key also to this is oil demand will come down. we're actually hitting the sort of, this trajectory growing independence as the confluence of factors are forming where the consumption will come down. >> the consumption has come down. we were consuming 22 million barrels a day only in 2005 and now we are consuming 3 million barrels a day less than that. and a lot of that has been in the last five years. >> so, what's going to be the incentive for oil companies to continue producing to reach this energy independence if consumption is already coming down and the prices are falling? >> we live in a world where petroleum products are to global market. demand globally is continues the grow. as long as the product demand is there, pri
so, what now is changing the environment such that it can happen? >> well, we had a price trigger over the last decade and that led to innovation and the employment of a lot of cap tam by a lot of companies and here we are growing our production base by over million barrels a day per year and there's no real end in sight. >> a key also to this is oil demand will come down. we're actually hitting the sort of, this trajectory growing independence as the confluence of factors are...
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Feb 7, 2013
02/13
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what we're doing in this environment, and we did raise a little bit of cash the last couple of weeks just so have some, but focus again back on earnings. earnings are pretty good. earnings running at 5% or so. a little better than expected. i think those are encouraging signs. then you go back to the themes. ly you go to housing, auto, auto parts. you go to the industrials. and particularly, the industrials, those stocks have done really well. go after cummings. go after utx. go after ingersoll grant. find the companies you want that reported good earnings, and that's where you go. >> doc, you've been among the more cautious traders we've had on the show the last several weeks. is this the kind of moment that you had feared, for lack of a better word, that would come in, or do you see this ss an opportunity to put some things to work on the list that you keep. >> i'm still worried about exactly what josh and stephanie and simon talked about as far as the sequestration and when that hits march 1st, if we don't avoid it. so where i thought we would see volatility pick up was midmonth,
what we're doing in this environment, and we did raise a little bit of cash the last couple of weeks just so have some, but focus again back on earnings. earnings are pretty good. earnings running at 5% or so. a little better than expected. i think those are encouraging signs. then you go back to the themes. ly you go to housing, auto, auto parts. you go to the industrials. and particularly, the industrials, those stocks have done really well. go after cummings. go after utx. go after ingersoll...
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Feb 8, 2013
02/13
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we were able to grow revenues and challenging economic environment. our gross margins were the highest they have ever been. we had record cash flow at $1.3 billion. we had a very successful year and our aim is to carry that momentum into 2013. we will talk to analysts about our strategies and how we would like to do that. >> ty? >> i would like to ask mr. stockton a couple of questions that seem to me to be a possible head winds for your company. number one, are young children playing as much with what we would call traditional toys or are they substituting handheld devices and other electronics? that's number one. number two, for your business, are you heavily dependent, more than you used to be, on the success of other company's franchises, character franchises, whether it is disney or universal characters for your success. >> that's a great couple of questions. let me start with digital play. we track kids play all the time as you might expect since we are the largest toy company in the world. what we found is that traditional play is really unchan
we were able to grow revenues and challenging economic environment. our gross margins were the highest they have ever been. we had record cash flow at $1.3 billion. we had a very successful year and our aim is to carry that momentum into 2013. we will talk to analysts about our strategies and how we would like to do that. >> ty? >> i would like to ask mr. stockton a couple of questions that seem to me to be a possible head winds for your company. number one, are young children...
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Feb 4, 2013
02/13
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and you're going to have a high cash yielding because that's pretty low interest rate environment. you win that way and take the portfolio public, sell it to a financial institution, so, you kind of win either way. the downside is being able to manage the homes. a lot of people have that on their mind. we have a company to handle that. we make concentrated buys in certain markets. in atlanta, we are buying a lot of homes, in las vegas we are. >> tom, thank you so much for coming back. home to see you again. tom shapiro. b.k., you are out of home builders entirely. why? >> the value is buying the physical houses at this point. wall street's been on this trade for a year. i'm out of xhb. i think you can be out of home depot and lowe's. >>> coming up next, a round of hold 'em or fold 'em. and we go off the charts to determine whether a new financial threat to the u.s. is emerging in europe. back right after this. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1
and you're going to have a high cash yielding because that's pretty low interest rate environment. you win that way and take the portfolio public, sell it to a financial institution, so, you kind of win either way. the downside is being able to manage the homes. a lot of people have that on their mind. we have a company to handle that. we make concentrated buys in certain markets. in atlanta, we are buying a lot of homes, in las vegas we are. >> tom, thank you so much for coming back....
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Feb 4, 2013
02/13
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that's the inflation/deflation component, how much the labor costs, very important in a rising salary environment. how much leverage there is, meaning, if you have all of the laboring costs accounted for, how much business can you do? all right, the one i like to think of, it's not a lemonade stand, chipotle. they have labor and they have food and customers. the more customers they can serve per hour, the more leverage they have. the keys to the gross margin at chipotle are the cost of the beef, chicken, tortillas, the cost of the labor and most importantly the number of customers they can push through in a given day. of course there are dozens of other inputs advertised in leases in the stores need to have as little turnover as possible because the cost of training new employees is tremendous. it's a huge obstacle to making a lot of money. th that's the former ceo of costco made clear to us. legendary for paying his employees the most and treating them with the best of benefits because it's so important to keep them happy. so the firm doesn't constantly have to train new people. new people are n
that's the inflation/deflation component, how much the labor costs, very important in a rising salary environment. how much leverage there is, meaning, if you have all of the laboring costs accounted for, how much business can you do? all right, the one i like to think of, it's not a lemonade stand, chipotle. they have labor and they have food and customers. the more customers they can serve per hour, the more leverage they have. the keys to the gross margin at chipotle are the cost of the...